| 
 Panorama Hospitality, which oversees the operations
        and asset management of the Ramada Osaka, has appointed Mr. Darren Morrish as General Manager of the 548-room hotel, effective Monday
        September 3, 2007. Mr. Morrish
        has over eleven years management expertise overseeing  Sofitel and
        Novotel hotels in
        his native Australia for the Accor group. Prior to his new post at
        the Ramada Osaka, he served as General Manager of the Chisun Hotel Hamamatsucho
        in Tokyo’s Minato Ward, operated by Solare Hotels & Resorts. A member of the Morgan Stanley Group, Panorama Hospitality is a global hotel
        asset management and operating company serving the Asia Pacific and Europe
        regions and is based in Tokyo. Established in September 2005, Panorama Hospitality oversees the asset management of a portfolio
        of hotels which include Crowne Plaza Kobe, Ramada Osaka, Hyatt Regency Kyoto,
        The Westin Tokyo and ANA-InterContinental Tokyo. See
        other recent news regarding:
        Hotels,
        Panorama
        Hospitality, Ramada,
        Japan, Osaka,
        General
        Manager
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